Novo Holdings to Acquire Catalent in $16.5 Billion Merger Agreement

Catalent, Inc. and Novo Holdings have announced a merger agreement under which Novo Holdings will acquire Catalent in an all-cash transaction valued at $16.5 billion. Novo Holdings will purchase all outstanding shares of Catalent for $63.50 per share in cash, representing a premium of 16.5% to the closing price of Catalent's common stock on February 2, 2024. In addition, the purchase price represents a premium of 39.1% to the closing price of Catalent's common stock on August 28, 2023.

Catalent is a leader in enabling the development and supply of better treatments for patients worldwide, and Novo Holdings is a holding and investment company that is responsible for managing the assets and wealth of the Novo Nordisk Foundation, which was established in Denmark in 1924 and whose mission is to improve people’s health and the sustainability of society and the planet.

The merger is expected to close towards the end of calendar year 2024. Novo Holdings plans to sell three Catalent fill-finish sites and related assets acquired in the merger to Novo Nordisk shortly after the merger's closing for an upfront payment of 11 billion USD. These three sites are located in Anagni, Italy; Bloomington, Indiana, USA; and Brussels, Belgium. These sites are “specialized in the sterile filling of drugs” and will help the pharma expand its current manufacturing capacity, particularly for its diabetes and obesity portfolio led by its top-selling semaglutide products Ozempic and Wegovy, respectively.